McMahons register half a billion dollars in stock loss

Jul 31, 2012 - by Steve Gerweck

The Stamford Advocate newspaper is running a story today regarding the McMahon family’s wealth and the smackdown the WWE stocks is currently receiving on the New York Stock Exchange. The article states that since McMahon first ran for Senate two years ago, the WWE stock price went from $18.64 to just $7.86 a share, costing the McMahon family a loss of half a billion dollars. The market cap for the company also was slashed in half, from $1.27 billion to $585 million. “You can argue that once she decided to run for office, they tried to clean up the WWE,” Euro Pacific Capital’s Peter Schiff said. “They took out some of the more sexual stuff and they might have lost their appeal.” The newspaper tried to get an interview with Linda McMahon and while it was scheduled for later this week, the campaign team canceled it after they found out it would be about WWE. “Linda no longer works for WWE,” her campaign spokesman said. “If you want to talk about the company, you should call them.”

(thanks to Colin Vassallo)

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